TimesSquare Capital Management LLC reduced its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 468,975 shares of the company's stock after selling 26,140 shares during the quarter. TimesSquare Capital Management LLC owned 0.45% of Elastic worth $46,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC raised its stake in shares of Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after buying an additional 490 shares during the period. New York State Common Retirement Fund grew its holdings in Elastic by 20.5% during the 4th quarter. New York State Common Retirement Fund now owns 172,707 shares of the company's stock valued at $17,112,000 after buying an additional 29,408 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Elastic by 5.1% in the 4th quarter. Truist Financial Corp now owns 6,158 shares of the company's stock valued at $610,000 after purchasing an additional 301 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Elastic by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company's stock valued at $302,000 after purchasing an additional 151 shares during the last quarter. Institutional investors own 97.03% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on ESTC. Wedbush lowered Elastic from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. DA Davidson upped their target price on Elastic from $75.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Barclays increased their price objective on Elastic from $105.00 to $138.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Bank of America upped their target price on Elastic from $94.00 to $120.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their target price on Elastic from $100.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elastic has a consensus rating of "Moderate Buy" and an average target price of $125.35.
Check Out Our Latest Stock Report on Elastic
Elastic Stock Performance
ESTC stock traded down $3.31 during trading on Friday, hitting $106.30. The company had a trading volume of 911,986 shares, compared to its average volume of 1,201,102. The firm has a market cap of $11.02 billion, a PE ratio of 193.27 and a beta of 1.07. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The firm has a 50-day moving average price of $105.99 and a 200-day moving average price of $95.51. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.
Insider Activity at Elastic
In other Elastic news, CTO Shay Banon sold 150,000 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the transaction, the chief technology officer now owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total value of $1,240,884.30. Following the transaction, the insider now owns 92,011 shares in the company, valued at $10,244,504.74. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,162 shares of company stock worth $18,637,562 in the last quarter. Company insiders own 15.90% of the company's stock.
Elastic Profile
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Free Report)
Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.
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